The XRP streak continues, while others bleed out.
The different investor behavior toward the spot crypto ETFs continues, as the BTC and ETH funds are still bleeding out heavily.
In contrast, the spot XRP and SOL products have enjoyed a healthy green streak, even though the net inflows are not always substantial.
The Green ETFs
CryptoPotato has repeatedly reported over the past month or so that spot XRP ETFs have become the main attraction among all crypto ETFs. Ever since the first one debuted on November 13 – Canary Capital’s XRPC, four more followed suit, and they have yet to see a day on which the net outflows were higher than the inflows.
The streak continued on December 23, with a relatively modest gain of $8.19 million. Monday was more impressive as $43.89 million entered the funds. Nevertheless, the total net inflows into the spot XRP ETFs have grown to $1.13 billion, according to data from SoSoValue.
The other altcoin that has enjoyed investors’ attention is SOL. The eight spot SOL ETFs were last in the red on December 3, and have attracted well over $130 million since then. However, the total net inflows are still behind XRP’s, with $754 million as of Tuesday’s close.
Bitwise’s BSOL continues to lead the pack, with a substantial cumulative net inflow of almost $620 million, while 21Shares’ TSOL is deep in the red.
BTC, ETH ETFs in the Red
The two largest cryptocurrencies, which also have the oldest ETFs tracking their performances, have lost their mid-year momentum and have been mostly in the red for the past several weeks. The spot Bitcoin ETFs‘ net inflows peaked at $62.77 billion on October 9, but have since shed nearly $6 billion to $57.08 billion as of December 23, a day on which another $188.64 million left the funds.
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What’s perhaps even more surprising and worrying is the fact that BlackRock’s IBIT, which is the largest of the bunch, has continuously registered net withdrawals.
The spot Ethereum ETFs are in a similar dire state. They have seen only one green day since December 11, which was December 22, with $84.59 million entering the funds. However, the net outflows on December 23 were higher ($95.53 million).
The ETH products also peaked in early October at $15.09 billion in net inflows and have lost almost $3 billion since then.
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